Senate Bill 412 Summary

• Allows counties to use certified shares from county adjusted gross income tax to maintain, rehabilitate, preserve, or restore historic county courthouses.

• Designates projects that maintain, rehabilitate, preserve, or restore historic county courthouses as eligible economic development projects under the county economic development income tax.

• Requires the Division of Historic Preservation and Archaeology to create a traveling exhibit in cooperation with the Indiana State Museum describing the role of historic courthouses in state and county history, architecture, and art.

• Establishes the historic courthouse rehabilitation and restoration revolving fund to provide loans up to $200,000 or 60% of project costs to counties for courthouse projects listed on the National Register of Historic Places, with interest rates capped at 75% of prime lending rate and 10-year repayment terms.

• Appropriates $50,000 for the traveling exhibit and $2,000,000 to the revolving fund for fiscal year 2012-2013.